Bank of Montreal Can purchased a new stake in Design Therapeutics, Inc. (NASDAQ:DSGN – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 99,240 shares of the company’s stock, valued at approximately $629,000. Bank of Montreal Can owned 0.18% of Design Therapeutics as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in DSGN. Legal & General Group Plc grew its stake in Design Therapeutics by 28.0% in the 2nd quarter. Legal & General Group Plc now owns 3,247 shares of the company’s stock valued at $45,000 after acquiring an additional 711 shares during the period. Atom Investors LP purchased a new position in Design Therapeutics in the 1st quarter valued at $69,000. Schonfeld Strategic Advisors LLC purchased a new position in Design Therapeutics in the 1st quarter valued at $77,000. SG Americas Securities LLC purchased a new position in Design Therapeutics in the 1st quarter valued at $87,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in Design Therapeutics by 15.7% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 19,306 shares of the company’s stock valued at $111,000 after purchasing an additional 2,617 shares in the last quarter. Institutional investors and hedge funds own 69.47% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have weighed in on DSGN. Wedbush lowered Design Therapeutics from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $19.00 to $6.00 in a report on Tuesday, August 15th. SVB Securities lowered Design Therapeutics from an “outperform” rating to a “market perform” rating and set a $6.00 price target on the stock. in a report on Tuesday, August 15th. Piper Sandler lowered Design Therapeutics from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $42.00 to $6.00 in a report on Tuesday. SVB Leerink reiterated a “market perform” rating and set a $6.00 price target on shares of Design Therapeutics in a report on Tuesday, August 15th. Finally, Royal Bank of Canada reduced their price target on Design Therapeutics from $7.00 to $4.00 and set a “sector perform” rating on the stock in a report on Tuesday. Seven equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $5.67.
Design Therapeutics Trading Up 1.3 %
Shares of DSGN opened at $2.32 on Thursday. The firm has a market cap of $129.89 million, a P/E ratio of -1.78 and a beta of 1.52. Design Therapeutics, Inc. has a 12-month low of $1.94 and a 12-month high of $15.52. The company’s 50-day moving average price is $2.28 and its 200 day moving average price is $4.60.
Design Therapeutics (NASDAQ:DSGN – Get Free Report) last issued its quarterly earnings data on Monday, August 14th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.05. Equities research analysts forecast that Design Therapeutics, Inc. will post -1.58 earnings per share for the current year.
Insider Activity at Design Therapeutics
In related news, Director Deepa Prasad acquired 12,000 shares of Design Therapeutics stock in a transaction that occurred on Tuesday, August 29th. The shares were purchased at an average cost of $2.31 per share, for a total transaction of $27,720.00. Following the acquisition, the director now owns 23,806 shares in the company, valued at $54,991.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Rodney W. Lappe bought 21,000 shares of the company’s stock in a transaction on Friday, September 29th. The stock was bought at an average cost of $2.35 per share, with a total value of $49,350.00. Following the transaction, the director now directly owns 133,024 shares in the company, valued at approximately $312,606.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Deepa Prasad bought 12,000 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was purchased at an average cost of $2.31 per share, with a total value of $27,720.00. Following the completion of the transaction, the director now owns 23,806 shares in the company, valued at $54,991.86. The disclosure for this purchase can be found here. 25.70% of the stock is owned by insiders.
Design Therapeutics Profile
Design Therapeutics, Inc a preclinical-stage biopharmaceutical company, engages in the development of therapies for the treatment of genetic diseases caused by nucleotide repeat expansions. The company's portfolio of products comprises Friedreich Ataxia, a monogenic, autosomal recessive, progressive multi-system disease that affects organ systems dependent on mitochondrial function, eventually leading to neurological, cardiac, and metabolic dysfunction; and Myotonic Dystrophy Type-1 (DM1), a dominantly-inherited, monogenic progressive neuromuscular disease affecting skeletal muscle, heart, brain, and other organs.
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